Business accounts: Guinea-Bissau

Updated 6 October 2026

An honest assessment before work starts, the quote is fixed in writing.

Guinea-Bissau is a member of the West African Economic and Monetary Union: banks are supervised by the Union's Banking Commission, and monetary policy is run by the Central Bank of West African States. The currency is the West African franc, pegged to the euro at 655.957 francs per euro, about 585 francs per dollar at the European Central Bank rate of 5 October 2026. The official language is Portuguese, and company law is built on the uniform acts of the Organisation for the Harmonisation of Business Law in Africa, shared by 17 countries. A business account is opened for a company registered in the country.

Company registration in 24 hours

Companies are registered at the Business Formalisation Centre in Bissau, a one-stop shop housing the notary, commercial registry, tax service, licensing, migration services for foreign investors and other agencies. The centre states that a company can be registered in 24 hours. The mandatory minimum capital of 1 million francs to set up a company in the country was abolished, making it easier to start small projects.

Company forms in use

• Limited liability company: the main form for small and medium businesses.
• Public limited company: for larger projects and bringing in partners.
• Simplified joint-stock company: a flexible form under the Union-wide rules.

Taxes the bank will see

• Corporate income tax: 25%.
• VAT was introduced in January 2025: standard rate 19%, reduced 10%.

Rates were checked against several independent sources. The bank compares account turnover with the company's tax registration.

For a foreign investor

• Migration matters for foreign founders and staff are handled by the migration service present at the same Business Formalisation Centre.
• Citizens of the Economic Community of West African States enjoy freedom of movement and residence in the region.
• Sector licences are needed for fishing, cashew exports, tourism and construction, issued by the relevant ministries.

Payments within the union and abroad

Within the eight-country union, payments are made in West African francs without conversion. Payments outside it, imports and exports follow the Central Bank of West African States' foreign exchange rules: operations go through a bank with documents, and companies bring export proceeds back into the country through a bank. So contracts, invoices and customs documents for each deal are kept and given to the bank.

What the bank checks

• articles and a commercial registry extract;
• the company's tax number and passports of directors and owners;
• foreign founders' documents translated into Portuguese;
• a description of activity: cashew exports, fishing, trade, services, construction;
• origin of capital and payment countries.

Bookkeeping and reporting

Companies keep accounts under the single accounting system shared by the business law harmonisation organisation's member states and file annual statements with the tax service. When reviewing the relationship, the bank may request recent statements and compare them with account turnover.

How opening works

1. Company registration at the Business Formalisation Centre.
2. Sector licences and tax number.
3. Bank file and origin of capital.
4. The director's bank visit.
5. An account in West African francs and, if needed, euros.

Why banks refuse

• The company has no real activity in the country.
• No sector licence for the stated activity.
• Origin of capital not proven.
• Foreign founders' documents not translated or certified.
• Payments with higher-risk countries without a clear explanation.
• Export proceeds not brought back into the country through a bank.

What we do

Murblz specialists register the company in Guinea-Bissau with locally licensed partners, obtain the tax number and licences, prepare the bank file and support the opening until the decision. We quote the cost after a short consultation; the decision always rests with the bank.

What we do

• Corporate account - opening assistance

See also

Personal account · Investment property · All country programs

FAQ